AstraZeneca to Offshore All API Production

In a continuing attempt to cut costs, the Anglo-Swedish big pharma AstraZeneca said it would move all of its API production offshore, with most of it going to China. The company will close a plant in the UK that manufactures APIs for cholesterol and schizophrenia drugs. Presumably, the company’s new facility in Wuxi will step in to replace at least some of the lost API production. More details... Stock Symbol: (NYSE: AZN)